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HomeMy WebLinkAbout85-095REL: adg 7/22/85 RESOLUTION NO. 85-95 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA MAKING CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION TO BE RECEIVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA PURSUANT TO A PARTICIPATION AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AND KLST PARTNERSHIP, LTD. FOR THE SALE OF CERTAIN REAL PROPERTY IN THE SANTA ANA REDEVELOPMENT PROJECT AND APPROVING THE SALE OF SAID REAL PROPERTY UPON THE TERMS AND CONDITIONS CONTAINED IN THAT AGREEMENT WHEREAS, the Community Redevelopment Agency of the City of Santa Ana is engaged in activities necessary to ex- ecute and implement the Redevelopment Plan for the Santa Ana Redevelopment Project; and WHEREAS, in order to implement the Redevelopment Plan, the Agency has agreed, subject to the approval of this Council, to sell certain real property in the Project Area, pursuant to the terms and provisions of that certain Partici- pation Agreement between the Agency and KLST Partnership, Ltd., which is on file in the office of the Executive Director of the Agency, in which said real property (hereinafter referred to as the "Site) is described; and terms, local WHEREAS, the Agreement contains all the provisions, conditions and obligations required by state and laws; and WHEREAS, KLST Partnership, Ltd. possesses the qualifications and financial resources necessary to acquire and insure development of the Site, in accordance with the purposes and objectives of the Redevelopment Plan; and WHEREAS, the Agency has prepared, and the City Council has reviewed and considered a Summary Report setting forth the cost of the Agreement to the Agency, the estimated value of the interests to be conveyed determined at the highest uses permitted under the Redevelopment Plan and the purchase price, and has made said Summary Report available for public inspection in accordance with the California Community Redevelopment Law; and RESOLUTION NO. 85-95 PAGE TWO WHEREAS, the Agency has found and determined that the Environmental Impact Report prepared for the Santa Ana Redevelopment Project as supplemented by the Supplemental Environmental Impact Report prepared for the Fashion Square Project is adequate for approval of the Participation Agree- ment and that no additional Environmental Impact Report is necessary, and this~Council likewise believes said Environ- mental Impact Repor% to be adequate for its use in approving the terms and conditions of sale of the Site; and WHEREAS, pursuant to the provisions of the California Redevelopment Law, the Agency and the City Council have held a duly noticed joint public hearing on the proposed sale of the site and the proposed Agreement; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS FOLLOWS: 1. The City Council has considered all terms and con- ditions of the proposed sale and hereby finds and determines that the sale and the redevelopment of the Site pursuant to the Participation Agreement is the best interests of the City and the health, safety and welfare of its residents, and is in accord with the public purposes and provisions of the applicable state and local laws. 2. The City Council hereby finds and determines that the consideration for the sale of the Site pursuant to the Participation Agreement is not less than the fair market value of the Site in accordance with covenants and condi- tions governing such sale. RESOLUTION NO. 85-95 PAGE THREE 3. The sale of the Site by the Agency to KLST Partner- ship, Ltd. upon the terms and conditions contained in the Participation Agreement is hereby approved. ADOPTED this 5th day of August , 1985. ATTEST: Janice C. Guy ~ Clerk of the Council Daniel E. Griset Mayor COUNCILMEMBERS: Griset Absent Acosta Aye Hart Aye Johnson Aye Luxembourger Aye Mc~uigan Aye Young Aye APPROVED AS TO FORM: ~-dw~rd~ ~. ~oper City A t~.~u-.a~ y